BANKRUPTCY
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Financial Regulator Asks For Astra Bankruptcy, Guarantee Fund To Pay Compensations
Romania's Financial Supervisory Authority ASF on Wednesday asked for the bankruptcy of insurer Astra Asigurari, under special administration, after the company failed to raise RON425 million...
Bakery Company Spicul Goes Bankrupt
Romanian bakery company Spicul, a name with a 160-year history in the local industry, has entered bankruptcy after four years of insolvency and now the plant of Rudeni locality, Ilfov, is pu...
Major IT&C Online Retailer In Romania Goes Bankrupt
Elka Oktal Group, which manages oktal.ro, among Romania’s ten largest IT&C online stores by 2013 revenue, went bankrupt after piling up a heavy debt load.
TCE 3 Brazi Declared Bankrupt
TCE 3 Brazi, owned by politician Culita Tarata, which made a profit of EUR50 million in the past six years but also amassed debts of EUR30 million, has been declared bankrupt.
River Invest, Developer Of Sema Parc Real Estate Project, Goes Bankrupt
River Invest company, controlled by businessman Ion Radulea, developer of Sema Parc real estate project in Bucharest, went bankrupt at the end of last month.
Ocna Sibiului Resort Goes Bankrupt On EUR7.2M Debt
Statiunea Ocna company, which managed the Ocna Sibiului resort in the spa town by the same name known for its salt waters, went bankrupt on EUR7.2 million debt. Its biggest creditor is Roman...
Pulp And Paper Producer Somes Dej Goes Bankrupt
Pulp and paper producer Somes Dej (SMS.RO), controlled by businessman Stefan Vuza, has been declared bankrupt.
New Insolvency Code To Push Firms Into Bankruptcy
Romania’s new Insolvency Code, to take effect on October 25, will impact small- and medium-sized companies, whose reorganization can’t be carried out in only one year, and will push them int...
Greek Group Sprider Exits Romania; Its Local Unit Went Bust
Greek fashion retailer Sprider Stores Tuesday closed its store network in Romania after its local subsidiary went bankrupt in July.